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App to ease direct deposit of stimulus checks will launch next week, US officials say

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Updated: 8:41 AM PDT Apr 13, 2020

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Hey guys. Yeah, we're back answering more of your questions, and we're focused on your money and the government bailout. Do you qualify for a check for unemployment with us today? Economists dug holes taken, president of the American Action Form and former director of the Congressional Budget Office. Happy You could join us, Doug. Thanks for having me overnight. I literally received hundreds of questions by email by Social Media, and by far this is the one I'm getting most. John Traynor asks. Do you know if people on Social Security and VA disability who do not pay taxes will still get a stimulus payment? They are eligible for a check, and they will get one. So if you're on Social Security disability, even if you haven't filed for taxes, you're getting a check. That's right. That's great. Next, the cut off for the $500 child credit is 16 years old or younger, so we're getting lots of questions about kids who are older than 16. Sabrina Jackson posted on my Facebook page. What about dependents over the age of 17 college students? No, they're not considered minors for this purpose. They won't get a check so if you're in that sort of age bracket where you're over 16 but not filing taxes yet, if you file taxes, you're considered an adult and you're open and eligible for the 1200. But if you're not filing taxes and you're still dependent on your parents, no dice, no dice. God, I came up short in this one. Another huge question I'm getting from a lot of people. Is this Pam right? Asking if you owe the I. R. S. Do you still qualify to get the check of your own money? And also, I'm getting the same question about student loans. Will that get clawed back? The student loans will not Clyde back. And if you owe the IRS money from our past year, this is a rebate on the taxes for 2020 and you will get a check so you get a check regardless, if you owe the I RS money or if you have student loans, this is this is Ah, yeah, the eligibility is very simple. You get a check your problems from the pastor in the past. I got it. You still owe that money, but you're gonna have to owe that money down the line. You get a check no matter what. Yes, got it. That's a lot of people will be happy to hear this year. Thing got it. Next is from a viewer who wants to know about her small business. Karen Geiger asks. I own a salon and required to shut down all of my employees filed for unemployment. Am I eligible for protection of lost revenue? She is eligible for protection of lost revenue. She can get a loan from the from our lender guaranteed by the the Small Business Administration. The requirement, however, is that she hired back her workers, keep them on payroll. If she does that at the end of the loan, it will be forgiven and she will have simply got in the cash. And do you sign up for that on the Small Business Administration website sp a dot gov. It's not yet clear how they're gonna run that they're gonna put out the regulations on how it operates, So we'll find out in a couple days. That's great dug holes. Achon, economist, former director of the Congressional Budget Office. You know your stuff, so I thank you for being here with us thank you for you at home. Here's how you can send in your questions to me and our panel of experts on Facebook. At Rawson reports on Instagram and Twitter. Use the hashtag Rawson response and you can also just email me directly Jeff dot rawson at hearst dot com. I was up all night literally reading all of these emails. My team and I read every single question, so keep them coming back to you.

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App to ease direct deposit of stimulus checks will launch next week, US officials say

Two U.S. government agencies are collaborating to launch a web app next week that will help Americans access payments from the country's economic stimulus measures. According to a news release from the U.S. Department of the Treasury, the treasury department and the IRS will launch the free "Get My Payment" app at IRS.gov next week.The app will allow taxpayers who have filed tax returns in 2018 and 2019 without providing bank information to submit information for direct deposit and receive the economic impact payments sooner, rather than waiting for a check to arrive in the mail. App users will also be able to track the status of their economic stimulus payment by providing basic information, including Social Security number, date of birth and mailing address. Taxpayers who want to add bank account information to speed receipt of payment will be prompted to provide their adjusted gross income from the most recent tax return submitted in either 2018 or 2019 and the refund or amount owed from their latest tax return. App users will also be asked to provide their bank account type, account and routing numbers.The app, which can operate on any desktop, phone or tablet, does not need to be downloaded from an app store.Treasury and IRS officials are encouraging those who plan to use the app to collect the required information ahead of time. Taxpayers who did not file a tax return in 2018 or 2019 can use "“Non-Filers: Enter Payment Info Here” to submit basic personal information to quickly and securely receive their payments. Americans who filed 2018 or 2019 tax returns with direct deposit information or receive Social Security do not need to take action. They will automatically receive payment in their bank accounts, according to Treasury officials.To help protect against potential fraud, the "Get My Payment" app does not allow people to change bank account information already on file with the IRS. Officials are reminding taxpayers that the IRS does not initiate contact by email, text messages or social media to request personal or financial information. "We urge taxpayers to be on the lookout for scammers and email phishing attempts about the COVID-19 and Economic Impact Payments," the Treasury's news release says.

Two U.S. government agencies are collaborating to launch a web app next week that will help Americans access payments from the country's economic stimulus measures.

According to a news release from the U.S. Department of the Treasury, the treasury department and the IRS will launch the free "Get My Payment" app at IRS.gov next week.

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The app will allow taxpayers who have filed tax returns in 2018 and 2019 without providing bank information to submit information for direct deposit and receive the economic impact payments sooner, rather than waiting for a check to arrive in the mail.

App users will also be able to track the status of their economic stimulus payment by providing basic information, including Social Security number, date of birth and mailing address.

Taxpayers who want to add bank account information to speed receipt of payment will be prompted to provide their adjusted gross income from the most recent tax return submitted in either 2018 or 2019 and the refund or amount owed from their latest tax return. App users will also be asked to provide their bank account type, account and routing numbers.

The app, which can operate on any desktop, phone or tablet, does not need to be downloaded from an app store.

Treasury and IRS officials are encouraging those who plan to use the app to collect the required information ahead of time. Taxpayers who did not file a tax return in 2018 or 2019 can use "“Non-Filers: Enter Payment Info Here” to submit basic personal information to quickly and securely receive their payments.

Americans who filed 2018 or 2019 tax returns with direct deposit information or receive Social Security do not need to take action. They will automatically receive payment in their bank accounts, according to Treasury officials.